One question I’m frequently asked is what do I need to do to my home to sell for the very best price. This is a great question and everyone who is selling their home should be concerned with how to get the best price in order to net the most cash at closing.
Sellers typically fall in one of two categories when it comes to adding value before selling. Either they want to fix and update everything or they do nothing at all. To get the best price you need to fall somewhere in the middle and in order to do that I want you to understand this one thing.
Some repairs and updating add more value to a home than they cost, while other items cost more than they add value.
So what adds more value to your home than it cost to perform? That is the key question you need to ask when you’re trying to add value to your home.
Below I give 5 amazing tips that everyone should know before selling their home.
#1 - Keep it Simple
Keep it simple - stick to projects and repairs that are simple, low cost, and easy. Painting rooms, replacing outdated fixtures, and trimming bushes, are the types of projects you should look to when you want to add more value.
A big mistake is to assume a fully remodeled kitchen or bath will add more value than it cost. In some situations it certainly can, but it’s a huge risk to assume a $10,000 remodeled kitchen will increase the value of your home by $15,000, when it really might only add $5000.
Keep it simple and do the things that cost very little, have low risks, and are likely to earn you a return.
#2 - Focus on the Big 3
What sells homes - kitchens, baths, and first impressions (curb appeal).
With that in mind, apply the first rule to the big three.
For example, instead of completely remodeling an entire kitchen, try just painting the cabinets, replacing hardware, and updating the faucet and light fixtures. You’ll be amazed what a difference that can do to an outdated kitchen. It’s low cost, low risk, and will likely add more value to your home than it cost to perform.
The same is true with a bathroom. Instead of replacing everything from floor to ceiling, just give it a fresh coat of paint, replace the vanity and toilet seat, and redo the caulk in the bath. All these items are easy to do and cost very little.
Curb appeal is very important. It’s the first thing people will see when they approach your house. Make sure the grass is cut, there’s fresh mulch, and the bushes are well trimmed.
Remember keep it simple and focus on the big three.
#3 - Keep it Clean and Decluttered
If a buyer walks into your home and the very first thing they notice is how dirty and unorganized it appears then they’ll have a hard time noticing anything good.
Go through your entire house and give it a really good clean. This cost little to no money and trust me, nothing turns away a potential buyer quicker than a dirty home.
Also go through and get rid of a few items that might be making your house look cluttered. Remove as much as you can from the counters in your kitchen, take clothes out of your closest, and remove items that take up a lot of space. Even consider removing a few pieces of furniture that take up prime walking space, like a coffee table.
#4 - If it’s Broke, Fix it
This is a very simple rule, but very important. You can do all the painting, replacing, and updating, but if something is broke you can lose potential buyers.
Buyers want a move in ready home. If they discover that the front door doesn’t properly close, there’s a clog in a drain, or a leak in the roof, it doesn’t matter if the kitchen is perfect, they may move to the next house, because they don’t want to deal with a repair the moment they own the home.
If it’s broke, fix it!
Tip #5 - If You Need Help - Just Ask
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